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Bernie Sanders’ ‘Medicare for All’ is Good for None (and Young Bernie Sanders Agrees)

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The good news in Sanders’s “Medicare for All” plan is that it has no chance of passing.

Recently, Senator Bernie Sanders unveiled a single-payer healthcare plan called “Medicare for All.” Sanders titled his approach for nationalizing one-sixth of the American economy as “Medicare for All” in order to offer a template for his vision of the U.S. healthcare system. Unfortunately, using Medicare as the template for the nation’s healthcare system is a little like using the production model for the Lada, the “people’s car” of the former Soviet Union, as the blue-print for the U.S. auto industry.

The “Medicare for All” proposal would transition millions of Americans to a Medicare-style system over the course of four short years, all the while promising to expand benefits, eliminate deductibles, and cut costs. If that sounds too good to be true, it is. The assumption that Medicare can be a long-term, sustainable model capable of absorbing quadruple the number of current enrollees is flawed from the start.

Medicare covers approximately 57 million Americans and is projected to cost nearly $700 billion this year. Revenue for the Medicare trust fund is generated via beneficiary premiums, which Sanders wants to eliminate, and general tax revenue, which he wants to increase. According to the 2016 Medicare Trustees Report, the Medicare trust fund faces a “substantial financial shortfall.” In fact, the report forecasts that within 12 years the trust fund will be depleted unless further legislation is enacted. Sanders’s proposal would place a significant burden on an already financially shaky system…

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